A competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates. competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates.
Only when the annuitant begins to withdraw money from the annuity, he has to pay tax on his gains. Annuitiy holders must be advised of the risks of deferred income taxes when they agree to accept an annuity contract. In the event of the death of the annuitant, the beneficiary is subject to tax.
If you pay a lump-sum payment (such as a refund of premiums) to a deceased annuitant's spouse or common-law partner, do not deduct income tax.ote. The T4A slip is still used to report eligible and non-eligible retiring allowance amounts (including those amounts paid to Indians) paid in 2009 and prior years if you are filing amended T4A slips or are filing late. You have to deduct income tax from lump-sum payments that are: